POST-MARKET SUMMARY 25th April 2024

On April 25, the Indian market saw a good recovery from the day's lows, extending its winning streak to a fifth consecutive session. However, gains were capped by profit-booking in the final hours. At closing, the Nifty surged by 167.90 points, or 0.75%, closing at 22,570.30. Except for realty, all sectors ended positively, with the PSU Bank index surging nearly 4% to achieve a record high of 7,421.20.

NIFTY:  The index opened 86 points lower at 22,316 and made a high of 22,625 before closing at 22,570. Nifty has formed a long bullish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 22,625 while immediate support is at 22,500.

BANK NIFTY: The index opened 417 points lower at 47,772 and closed at 48,494. Bank Nifty has formed a strong bullish candlestick pattern on the daily timeframe. Its immediate resistance level is now placed at 48,600 while support is at 48,300.

Stocks in Spotlight

▪  Nestle India: Stock gained over 2% after the FMCG giant reported better-than-expected earnings for the March quarter.

▪  MAS Financial Services:  Stock advanced over 3% after the company reported strong earnings in the March quarter.

▪  Axis Bank: Stock jumped 6% after the private lender reported a strong set of fourth quarter earnings.

Global News

▪  The pan-European benchmark Stoxx 600 index was down 0.8% by 3:25 p.m. London time, extending a downward slide during morning trade. The majority of sectors were in negative territory, with industrial stocks losing 2% as healthcare added 0.4%.

▪  The U.S. dollar briefly fell against the yen on Thursday after data showed the world’s largest economy grew more slowly than expected in the first quarter.

▪  Asia-Pacific markets took a breather after two straight days of rallies, mirroring moves on Wall Street ahead of first-quarter GDP (gross domestic product) figures from the U.S. due Thursday.

This document has been issued by Liquide Solutions Private Limited for information purposes only and should not be construed as

i) an offer or recommendation to buy or sell securities, commodities, currencies or other investments referred to herein; or

ii) an offer to sell or a solicitation or an offer for the purchase of any of the baskets of Liquide Solutions; or

iii) investment research or investment advice. It does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. Investors should seek personal and independent advice regarding the appropriateness of investing in any of the funds, securities, other investment, or investment strategies that may have been discussed or referred to herein and should understand that the views regarding future prospects may or may not be realized. In no event shall Liquide Life Private Limited and/or its affiliates or any of their directors, trustees, officers and employees be liable for any direct, indirect, special, incidental or consequential damages arising out of the use of information/opinion herein.

With Liquide, you can explore stocks, trade securely in your own broker account, and receive expert-recommended trade setups. Stay updated with real-time tracking, market commentary, and AI-powered insights from LiMo, our intelligent bot. Whether you're a seasoned investor or a newbie, Liquide provides the tools you need to discover your next big investment opportunity. Download the app now from Google Play Store and Apple App Store to revolutionize your investment journey. Don't miss out on the chance to level up your investing game with Liquide.